K33 Research cautions that the bitcoin-treasury boom is cooling, with many firms now trading below the market value of their BTC holdings.
π About 25% of public bitcoin-treasury firms are trading with market caps below NAV
π NAKA has collapsed 96% from its peak, with mNAV down to 0.7
π Other names below NAV include Twenty One (Tether-backed), Semler Scientific, and The Smarter Web Company
π The mean mNAV fell to 2.8 from 3.76 in April
π The Strategy (MSTR) premium dropped to 1.26, the lowest since March 2024
π Treasury firms are buying an average of 1,428 BTC per day in September, the slowest pace since May
π Public company holdings exceed 1 million BTC, shifting demand back toward ETFs and retail
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π About 25% of public bitcoin-treasury firms are trading with market caps below NAV
π NAKA has collapsed 96% from its peak, with mNAV down to 0.7
π Other names below NAV include Twenty One (Tether-backed), Semler Scientific, and The Smarter Web Company
π The mean mNAV fell to 2.8 from 3.76 in April
π The Strategy (MSTR) premium dropped to 1.26, the lowest since March 2024
π Treasury firms are buying an average of 1,428 BTC per day in September, the slowest pace since May
π Public company holdings exceed 1 million BTC, shifting demand back toward ETFs and retail
ChainFuse
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β³ Only 3 hours and 23 minutes remain until the GDP and Initial Jobless Claims data drop β volatility could range from moderate to high.
GDP (QoQ)
Forecast: 3.3% | Prior: -0.5%
π If the release comes in above 3.3%, crypto could turn bearish (a hotter economy narrows the window for rate cuts)
π If it prints below 3.3%, crypto could rally (slower growth leaves more room for easing)
Initial Jobless Claims
Forecast: 233K | Prior: 231K
π Reading below 233K β crypto bearish (tight labor market implies fewer rate-cut opportunities)
π Reading above 233K β crypto bullish (weaker labor market signals more room for rate cuts)
β οΈ Weβll post updates as soon as the data lands, so keep @cryptocurrency_media unmuted and share this channel with friends so they donβt miss it.
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GDP (QoQ)
Forecast: 3.3% | Prior: -0.5%
π If the release comes in above 3.3%, crypto could turn bearish (a hotter economy narrows the window for rate cuts)
π If it prints below 3.3%, crypto could rally (slower growth leaves more room for easing)
Initial Jobless Claims
Forecast: 233K | Prior: 231K
π Reading below 233K β crypto bearish (tight labor market implies fewer rate-cut opportunities)
π Reading above 233K β crypto bullish (weaker labor market signals more room for rate cuts)
β οΈ Weβll post updates as soon as the data lands, so keep @cryptocurrency_media unmuted and share this channel with friends so they donβt miss it.
ChainFuse
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π¨ BREAKING: Capital Group, overseeing a massive $2.8 trillion in assets, has officially become the largest shareholder in Metaplanet, a leading Bitcoin treasury company.
This marks a major milestone as institutional players press further into the crypto space. π
#Bitcoin #Crypto #InstitutionalAdoption #Metaplanet
ChainFuse
This marks a major milestone as institutional players press further into the crypto space. π
#Bitcoin #Crypto #InstitutionalAdoption #Metaplanet
ChainFuse
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- U.S. initial jobless claims for the week ending Sept. 20 fell by 14,000 to 218,000, still below economistsβ forecast of 235,000.
- Continuing claims for the week ending Sept. 13 totaled 1.926 million, down 2,000.
- In a separate release, initial claims for the week ending Sept. 13 were revised up to 232,000.
ChainFuse
- Continuing claims for the week ending Sept. 13 totaled 1.926 million, down 2,000.
- In a separate release, initial claims for the week ending Sept. 13 were revised up to 232,000.
ChainFuse
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